Bill Ackman's bullish call on this stock sent shares up 6%

Legendary hedge fund activist investor Bill Ackman has made a lot
of short calls. But his long pick late in the day at the Sohn
Conference Foundation in New York sent one company's stock
spiking.

Jarden Corp. shares shot up more than 6% in after-hours trading
after the stock was one of two that Ackman threw his considerable
weight behind.

Ackman lauded Jarden Corp., whose chairman he has before paired
with, for having "superior" operations and went as far as to hold
the stock up next to other platform companies like Liberty Media
and InBev-Anheuser Busch.

Ackman called Founder and Executive Chairman Martin Franklin
"incredible" and praised him for building a company that is
"perpetually undervalued."

The market clearly got bullish on Ackman's sentiment: the stock
was up more than five percent just moments after Ackman's
call.

He also reiterated his support for Valeant Pharmaceuticals. He
first
invested in the pharmaceuticals company in March.

William Ackman, founder
and CEO of hedge fund Pershing Square Capital Management, speaks
during the Sohn Investment Conference in New York May 4,
2015.REUTERS/Brendan
McDermid